Instagram To Test Hiding Likes In The U.S. -11/12/19

From the Simplr studios in San Francisco, this is your daily briefing.  

Introduction

With your Retail E-Commerce Briefing for today, Tuesday, November 12th, I'm Vincent Phamvan.

Instagram will begin testing hiding likes on the platform in the U.S. The platform says its the latest step to positively impact users well-being. But some have said the change could negatively impact influencer careers, who are a key component of Instagram’s success.

First, here are some retail headlines.  

Adidas, Prada Partner on Sneakers

Adidas and Prada are partnering up to produce a limited-edition sneaker range. According to the retailers, this is the beginning of a long-term partnership. In a press release, Prada said, “The aim of this partnership is to investigate the realms of heritage, technology, and innovation - and to challenge conventional wisdom through unexpected strategies.” The collection launches next month with two styles of trainers.  

Rebag Introduces New Resale Tool

Rebag, which lets customers sell used, high-end handbags, introduced a new “comprehensive luxury appraisal index”  for resale. The new tool, called Clair, will reveal your desired bag’s current and projected resale value. Rebag’s success is an indicator of a shift in retail. The secondhand market is projected to grow to $51 billion by 2023, growing one and a half times larger than fast fashion over the next decade. Players like Rebag, The RealReal, Thredup, and even the Kardashians are vying for resale market share, but Rebag’s new tool could give it a competitive edge above other luxury resellers. The tech is both adapting to and enabling a change in consumer habits, providing customers with the market value of their goods, something that most current owners of luxury handbags had been missing.  

Amazon Opening New Grocery Store

Amazon is opening a new grocery store in Los Angeles in 2020. It’s the first location of what is expected to be a chain of new grocery stores launched by Amazon. An Amazon spokesperson has confirmed the news. The announcement came after months of speculation that the retail giant was leasing dozens of properties in the Los Angeles area as part of its plan to build out its grocery chain. According to a spokesperson, the grocery store chain will be different from Amazon-owned Whole Foods and unlike Amazon Go stores, it will have a conventional checkout. Amazon has already begun hiring for the new grocery store, posting listings for a store leader, grocery associates, and a food service associate.  

Instagram To Test Hiding Likes In The U.S.  

Instagram said they will begin to test hiding like counts in the U.S. The social media platform’s CEO said the idea is to depressurize Instagram, make it less of a competition, and give people more space to focus on connecting. The intention is to reduce any social media-induced anxiety and social comparison. Instagram began testing this in April in Canada and expanded it to Ireland, Italy, Japan, Brazil, Australia, and New Zealand in July. Facebook started a similar experience in Australia in September.  

The news has raised questions about whether the change will hurt influencers on the platform. Influencers are vital to Instagram’s success since they keep their fan bases coming back to the platform day after day. Instagram has to be mindful that it doesn’t significantly decrease creator or influencer engagement and business success. If Instagram finds the impact of the test to be too negative on influencers, it may not roll out the change. While Instagram’s CEO stated the company wasn’t afraid to hurt its bottom line, hurting the careers of influencers may not be an option unless the positive impacts on well-being are significant enough.  

Closing

Don’t forget, Simplr can help you scale up for the holidays with 24/7 customer service support. Learn more at simplr.ai. That’s S-I-M-P-L-R.ai.

Thanks for listening to this latest episode of the Retail E-Commerce Briefing. See you tomorrow.